Texas Special District Local Laws Code - Section 1001.358. Use Of Revenue Bond Proceeds
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§ 1001.358. USE OF REVENUE BOND PROCEEDS. (a) If
permitted in the bond ordinance, any required part of the proceeds
from the sale of the revenue bonds may be used to:
(1) pay interest on the bonds during the construction
of a hospital facility to be provided through the issuance of the
bonds;
(2) pay operation and maintenance expenses of the
facility to the extent and for the time specified in the bond
ordinance; and
(3) create reserves for the payment of the principal
of and interest on the bonds.
(b) The proceeds of the bonds may be invested until needed
to the extent and in the manner provided by the bond ordinance.
Added by Acts 2005, 79th Leg., ch. 729, § 1.01, eff. April 1,
2007.
Section: 1001.351 1001.352 1001.353 1001.354 1001.355 1001.356 1001.357 1001.358 1001.359 1001.360 1001.361 1001.401 1001.402 1001.403 1001.404
Last modified: August 10, 2007
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